Refinancing Frictions, Mortgage Pricing and Redistribution
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https://www.nber.org/papers/w32022
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资源简介：
There are large cross-sectional differences in how often US borrowers refinance mortgages. In this paper, we develop an equilibrium mortgage pricing model with heterogeneous borrowers and use it to show that equilibrium forces imply important cross-subsidies from borrowers who rarely refinance to
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美国国家经济研究局创建时间：
2024-01-01
